Multiple Choice
The external marginal cost of producing coal is MCexternal = 6Q while the internal marginal cost is MCinternal = 4Q.The inverse demand for coal is given by P = 120 − 2Q.How much output would a monopoly produce?
A) 10
B) 20
C) 15
D) It cannot be determined because of incomplete information.
Correct Answer:
Verified
Correct Answer:
Verified
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